Rapp Corp. has the following inventory information available for June: Date Description Units Cost per unit June 1 Beginning inventory 60 $150 June 5 Sale (50) June 16 Purchase 200 $160 June 25 Sale (190) Question: If the company uses the periodic system with the LIFO cost flow assumption, what will be its cost of goods sold for June? 

Answer rating: 100% (QA)

Heres how to calculate the cost of goods sold COGS for Rapp Corp in June using the periodic system w... View the full answer